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![Validity of Reassessment Based on AIR Information: ITAT Confirms AOs Decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Reassessment-Based-AIR-Information-ITAT-Confirms-AOs-Decision-TAXSCAN.jpg "Validity of Reassessment Based on AIR Information: ITAT Confirms AOs Decision [Read Order]")
Validity of Reassessment Based on AIR Information: ITAT Confirms AO's Decision [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the decision of the Assessing Officer (AO) regarding the validity of the reassessment...
![ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-estimates-Cheque-Discounters-Taxable-Income-Income-Cash-and-Other-Credit-Credit-due-Revenue-Leakage-taxscan.jpg "ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]")
![Bonafide Impression that Predecessor Already Submitted AIR Not A Reasonable Cause for Delay of 526 Days: Kerala HC Upholds Penalty u/s 271FA of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Bonafide-Impression-that-Predecessor-Already-Submitted-AIR-Reasonable-Cause-v-Kerala-HC-Upholds-Penalty-of-IT-Act-TAXSCAN.jpg "Bonafide Impression that Predecessor Already Submitted AIR Not A Reasonable Cause for Delay of 526 Days: Kerala HC Upholds Penalty u/s 271FA of IT Act [Read Order]")
Income Tax department to issue 7 lakh letters seeking Information in respect of High Value Non PAN Transactions
Under the Annual Information Returns (AIR), various types of high-value transactions were being reported to the Income Tax Department. These include reporting of cash deposits of Rs.10,00,000 or more...
